Year: 2016

A Preliminary Outlook on the Economic Impacts of a Trump Presidency Any forecasts of impacts from the Trump Administration must be viewed as extremely preliminary, and the actual effects will ultimately depend upon the extent to which Trump’s campaign proposals are enacted. Trump’s planned stimulus package of tax cuts and infrastructure spending in early 2017 could provide a mild boost to employment and economic growth in the second half of 2017 and into 2018. But these gains are widely expected to be at least partially offset by greater inflation and higher interest rates. The impact of Trump’s broader economic platform raises more uncertainty. The planned business-friendly policies to reduce regulation and lower taxes can be expected to further stimulate economic growth, while the anti-globalization measures to reduce imports and net in-migration threaten to reduce economic growth in 2018 and beyond. On balance, these policies materially raise the odds of a recession by 2019, though much depends on the extent to which Trump’s economic plank is ultimately adopted. Impacts on the property sector should broadly track …

Attorney Dennis Hwang offers a well reasoned argument as to why we need to build the rail to Ala Moana. Voices like his need to be heard and I’m happy to share this article with our readers. [Photo Info: The photo above is from the groundbreaking ceremony held in February 2011 and pictures Senator Daniel Akaka and the late Senator Daniel Inouye. Senator Inouye was a true champion of the project and his steady voice remains with us as we push forward. Photo courtesy of HART] “Should Honolulu build a $7 billion dollar rail system that stops at Middle Street, has perhaps half the ridership originally planned for and is a drain to operate? Lost riders include those from Leeward or Central Oahu who could get to downtown, Chinatown,or Ala Moana quicker by car or by bus rather than rail and then another bus at Middle Street. Airport tourists would hesitate to ride the rail to Middle Street, but might if it went to Ala Moana. Lost would be thousands of tourists and townies at …

After posting more than 170,000 square feet of positive absorption over the past two quarters, the Oahu office market changed direction and recorded 63,698 square feet of lost occupancy for the second quarter of 2016.

Take a good look at that photo. It was taken in February 2015, not even 18 months ago, and shows the guideway construction along Kualakai Parkway (old North South Road) turning onto Farrington Highway. Since that time we are well into Aiea and moving into the Aloha Stadium area. Station construction has commenced in Waipahu and the transformation of Waipahu is underway. If you doubt that, go look for yourself. The loud voices we hear now are all about how much this is going to cost. “Can we afford it?” My question is “How can we not afford it?” One of the most important aspects of this project has been lost in the uproar over cost and the ensuing political machinations from all sides. Nothing quite says “political season” like shifting stances and strange bedfellows. If you are doubting whether it’s worth it to build the rail as originally intended, watch the video linked below and then tell me what better option we have to address the issues of quality of life, economic opportunity and …

It has been a remarkably busy three months since the beginning of the year. We broke ground on six stations in the East Kapolei to Waipahu corridor and the first four rail cars were delivered on-island. And, we finished the balanced cantilever aka the fly over of the H1 H2 merge – a very cool time lapse video of the construction can be seen here. Meanwhile, DPP-TOD presented the Ala Moana Neighborhood Final Draft to the public in early March. The notes and presentation from the meeting – this is a must-read for anyone interested in this area and what the plans are moving forward. A round up of news stories of particular note are below in chronological order. RAIL TAX EXTENSION The Honolulu City Council passed a bill extending the 0.5 percent surcharge on Hawaii’s 4 percent general excise tax until 2027 for the city’s rail transit project. News out just in the past day or two indicates this may not be enough to keep up with rising construction costs. If you follow real …